Germany to trim solar power subsidies
BERLIN, Germany – Germany’s governing parties say they will cut solar power subsidies by up to 16 per cent this summer in a move aimed at lowering consumer costs.
Hans-Peter Friedrich of the governing CSU said yesterday the coalition government decided to lower the price paid for electricity from solar panels on roofs by 16 per cent and that from larger solar power stations by 15 per cent starting July 1.
Currently, the owners of the power grid are forced by law to buy solar power at 39 euro cents (53 US cents) per kilowatt hour, while the market price is only about five euro cents (seven US cents) per kilowatt hour. They are allowed to pass the difference on to consumers.
